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Building wealth and achieving financial goals

Aligning investments with risk tolerance and capacity

Investing is an indispensable tool for building wealth and achieving financial goals. By allocating resources to various investments, individuals can accumulate wealth over time through capital appreciation, dividends and interest. For example, investing in a diversified portfolio of stocks can yield significant returns, enabling you to grow your wealth far beyond what traditional savings accounts offer.

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Autumn Budget Statement 2024

What it could mean for your finances

On 30 October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget Statement 2024, accompanied by a comprehensive fiscal statement from the Office for Budget Responsibility (OBR). This significant event comes as the new government, elected to boost economic stability and growth, takes its first important step in addressing the nation’s financial health.

The Autumn Budget will outline the government’s economic strategy, providing insights into their taxation, public spending and fiscal

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Britain’s biggest pension taxpayers

How to make sure you avoid becoming one

Since 2015, individuals over the age of 55 with defined contribution (DC) pension pots have enjoyed full freedom to decide how to manage their pensions; purchasing an annuity (a guaranteed income for life) is no longer mandatory. More than 221 people fully withdrew a pension pot of £250,000 or more between October 2022 and March 2023[1], resulting in a tax bill of at least £97,500 each[2], according to new analysis of FCA

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Building financial confidence in children

Sharing values and encouraging children to formulate their own

Having a conversation with children about money early on helps them to build financial confidence and learn foundational principles that will be useful for years to come. It also allows parents to share their financial values and wishes. We look at some practical ways this can be done at different stages of childhood.

Some parents dread talking to their children about money. Others simply struggle to know how or at what

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Caring for grandchildren

How it can help you boost your State Pension

Around one in five grandparents over the age of 50 in the UK provide childcare help for their grandchildren, but thousands may be missing out on a valuable scheme that could increase their State Pension entitlement[1]. Soaring childcare costs mean many parents turn to grandparents to look after their children when they return to work.

This helps them and has important financial benefits for grandparents, even if they aren’t paid for

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Changing retirement trends

Why the concept of a ‘hard stop’ retirement is becoming less prevalent

New research reveals that more than a quarter (28%) of individuals aged 25 to 54 do not foresee a complete retirement in their future[1]. This suggests the concept of a ‘hard stop’ retirement is becoming less prevalent among those considered to be in their prime working years. This emerging trend reflects a significant shift in how modern workers approach their career trajectories and financial planning.

With evolving economic

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Downsizing in later life

Research highlights what people consider before making the decision

Data has revealed that while a third of over-45s (29%) say they have plans to downsize in the next five years, just 13% of over-75s have actually made the move[1]. As people assess their retirement finances, the research highlights the ideal age to downsize is 66. However, ties to the community, their homes, and the security it brings mean that most people choose not to proceed.

The research also examined attitudes

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Financial planning conversations you need to have

Protecting your legacy and boosting your children’s financial security

Discussing finances can evoke anxiety or discomfort, and this tension doesn’t ease when family members are involved. Nevertheless, parents of adult children are responsible for discussing their financial future—particularly retirement and estate planning. Doing so ensures their children can provide support or fulfil their wishes as needed.

Open conversations can provide financial planning opportunities and improve your loved one’s future finances. The sooner you talk about money, the better your chances

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Financial protection

Ensuring a secure future for you and your loved ones

Nobody wants to consider what would happen if they became too ill to support their family financially. Financial protection is essential to creating peace of mind for your loved ones, but understanding what cover you may need can be confusing.

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How much do I need to save for retirement?

Ensure your money works effectively to enjoy retirement on your own terms

How you invest in your 50s could significantly impact your quality of life in retirement. While there is still time to increase your retirement savings, a seemingly simple mistake could derail your plans. This is where obtaining professional financial advice becomes crucial.

With retirement now in sight, as you approach this milestone, ensuring your money works effectively will allow you to enjoy retirement on your own terms.

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Investing a lump sum

Received an inheritance, windfall, or proceeds from a business or property sale? But what next?

Receiving a lump sum of money, whether from an inheritance, windfall, or proceeds from a business or property sale, can be exciting and overwhelming. Deciding where to invest this money is crucial, and with numerous options available, it can be challenging to determine the best course of action.

Knowing where to put a cash windfall can be difficult, particularly in times of market and economic

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Learning from the retired

Balancing financial security with mental well-being

The experiences of today’s retirees offer a wealth of knowledge for anyone planning their retirement. By observing the paths already taken, future retirees can glean valuable lessons from the triumphs and challenges faced by those who have navigated this transition before them. This collective knowledge is crucial in shaping a retirement plan that balances financial security with mental well-being.

Financial security begins with diligent saving and investment strategies, which should be initiated as early

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